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it was a big shake. it felt like a big shake. we're not used to that sort of magnitude earthquake. for many people, they got a frigtd. but everything is fine. a most unusual event. >> mark o'brien, network 10 reporter, from melbourne. >>> neighboring new zealand was hit by an earthquake on tuesday. the 6.5 magnitude quake was felt on most of the country. it was centered in taupo. but it was felt as far down as the capital of wellington. residents were shaken. but there's been no reports of any damage so far. as network 10's reporter, mark o'brien, was telling us. >>> you're watching "world business today." her first day on the job as the head of the imf. we'll look at the kind of leader that lagarde is bound to be. >>> a place where money seems to be no object. and gracing group buying sites. ♪ sing polly wolly doodle all the day ♪ ♪ hah nymex trieding down on 28 cents on the dollar. from cnn london, this is "world business today." welcome back. a die after winning thailand's general election, the new prime minister has announced her government will reopen an investigation in
it was a big shake. it felt like a big shake. we're not used to that sort of magnitude earthquake. for many people, they got a frigtd. but everything is fine. a most unusual event. >> mark o'brien, network 10 reporter, from melbourne. >>> neighboring new zealand was hit by an earthquake on tuesday. the 6.5 magnitude quake was felt on most of the country. it was centered in taupo. but it was felt as far down as the capital of wellington. residents were shaken. but there's been no...
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but smaller developers aren't big enough to do their own thing. for those smaller developers who no one's heard of, it's going to be tougher for them to defect to the web, do their own thing and hope people find them just by searching. >> that was maggie lake. >>> despite the hype and fanfare, for apple it hasn't been an easy six month. the stock fell by 3.5% in june, the worst first half performance since the financial crisis erupted in 2008. apple's great at breathing new life into its existing stable of products, but it seems as though investors are hankering after something else, new gadgets from the company. they're also worried about competition from the like of google. >>> next on the show, europe and south korea are locked in a tighter embrace as a new trade deal promises change in opportunity. for consumers and companies alike. details ahead. >>> in from -- from cnn london, welcome back. a twist in the case of dominique strauss-kahn is expected to play out in a courtroom seven hours from now. a source close to the case tells cnn that pros
but smaller developers aren't big enough to do their own thing. for those smaller developers who no one's heard of, it's going to be tougher for them to defect to the web, do their own thing and hope people find them just by searching. >> that was maggie lake. >>> despite the hype and fanfare, for apple it hasn't been an easy six month. the stock fell by 3.5% in june, the worst first half performance since the financial crisis erupted in 2008. apple's great at breathing new life...
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. >> reporter: let's not mix a lot of different things into one big pot. the poll you referred to was a poll that was done the day after dominique strauss-kahn's arrest. it was a poll that was faultily done. it was declared illegal and done as people were still trying to adjust and absorb the reality that one of the most powerful men in the world who could have been president could have committed such a crime as he was about to announce his nomination. so, i disregard the importance of that poll that said early on that a majority of the french thought that he might have been the victim of a plot. as for france having different sexual morays, seduction is not criminality, seduction is playful, should be enjoyable. committing a violent crime against a woman which was what was alleged to have happened is appalling for any french person. and so one has to make that distinction. what is the bridge between seduction and a violent crime is the potential abuse of power which is -- which is also something that is endemic in french life. >> you make a point that's w
. >> reporter: let's not mix a lot of different things into one big pot. the poll you referred to was a poll that was done the day after dominique strauss-kahn's arrest. it was a poll that was faultily done. it was declared illegal and done as people were still trying to adjust and absorb the reality that one of the most powerful men in the world who could have been president could have committed such a crime as he was about to announce his nomination. so, i disregard the importance of...
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but mining stocks with big drags here. we have rio tinto. financials fell. >> you know, ramy, we've been so preoccupied by what's happened in washington that sometimes it's easy to lose sight of the fact we are in the midst of earnings seasons. we've had reports across the region. >> nintendo, they slashed their full year's forecast earnings by a whopping 82%. that's because gamers aren't so interested in their handheld 3-d game players which came out five months ago. that would be the 3-ds. that's the biggest fall in the past two decades. you're looking at a year to date. nintendo share prices dropped a whopping 47%. it's a similar story, not so bad for sony. they cut its profit estimate for the year by about 25%. this was yesterday. that's because of weak demand for tvs like this bravia over in the u.s. and europe. sony's share price year to date has also dropped by about 35%. but, you know, it's not all doom and gloom. they say its net income surged to about $1.31 billion. this is for the six months to may. forecasters had been -- forecas
but mining stocks with big drags here. we have rio tinto. financials fell. >> you know, ramy, we've been so preoccupied by what's happened in washington that sometimes it's easy to lose sight of the fact we are in the midst of earnings seasons. we've had reports across the region. >> nintendo, they slashed their full year's forecast earnings by a whopping 82%. that's because gamers aren't so interested in their handheld 3-d game players which came out five months ago. that would be...
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there's no symptom of big government more menacing than this. we're up to the task. i hope president obama will join us in this work. >> all right. love that home-spun economics. the key is to make money through higher taxes. that's the other approach, the one that speaker boehner says is destined to fail. >> the president says we need a balanced approach which in washington means we spend more and you pay more. i mean run a small business? i know those tax increases will destroy jobs. the president is adamant that we cannot make fundamental changes to our entitlement programs. as the father of two daughters i know the programs won't be there for them unless significant action is taken now. >> the political wrangling. both obama and boehner were trying to get them to strike the deal. the sun has set on yet another day without agreement, meaning a default may be just a week away. >>> two very political speeches from president obama and house speaker john boehner, who back two very different plans to raise the debt ceiling. from president obama he clearly endorsed the
there's no symptom of big government more menacing than this. we're up to the task. i hope president obama will join us in this work. >> all right. love that home-spun economics. the key is to make money through higher taxes. that's the other approach, the one that speaker boehner says is destined to fail. >> the president says we need a balanced approach which in washington means we spend more and you pay more. i mean run a small business? i know those tax increases will destroy...
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big business is scared. if there's a default, they're going to lose a whole lot. >> reporter: americans don't like hearing about politicians losing their tempers during negotiations. >> i understand it's difficult. my job is very difficult. i don't have the option of walking out of a meeting. that would be considered completely inappropriate. >> reporter: many americans believe the debt ceiling needs to be raised but not everybody. >> if i have a credit card with a certain limit and i'm overspending, the answer is not to increase my spending limit. >> is this going to put a greater burden on us as the american people and i just don't think it will help the situation. >> reporter: but there are eternal optimists. >> no matter what they do, we'll survive. >> reporter: a hopeful note as we head into the home stretch on the debt crisis. fe lee shah taylor, cnn, new york. >> let's go over to south africa, where david cameron, the prime minister of united kingdom will be speaking a bit later on alongside the south
big business is scared. if there's a default, they're going to lose a whole lot. >> reporter: americans don't like hearing about politicians losing their tempers during negotiations. >> i understand it's difficult. my job is very difficult. i don't have the option of walking out of a meeting. that would be considered completely inappropriate. >> reporter: many americans believe the debt ceiling needs to be raised but not everybody. >> if i have a credit card with a...
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europe the big story. this trough across the west, big ridge across the east and that means a heat wave for moscow. temperatures here are going to be in the mid-30s, and in the middle we're going to be talking large hail, strong winds and heavy rain as the thunderstorms continue to intensify. manisha? >> ivan, thank you very much. keeping us ahead of the weather systems. much appreciated. >>> now, the debt uncertainty in the united states is sending shudders through markets around the world. that's just ahead. >>> from cnn london, i'm charles hodson. >> and i'm manisha tank at cnn hong kong. a warm welcome back to "world business today." >>> well, let's check in on european stock markets now. about one and half hours in to trading, and here's how things are looking. the -- a lot of negative factors here, disappoints results from ryanair. we're seeing the continued stale mates in washington and a downgrading of greek debt by moody's. three notches from ca to ca-1. look at the numbers off by -- sorry. i gues
europe the big story. this trough across the west, big ridge across the east and that means a heat wave for moscow. temperatures here are going to be in the mid-30s, and in the middle we're going to be talking large hail, strong winds and heavy rain as the thunderstorms continue to intensify. manisha? >> ivan, thank you very much. keeping us ahead of the weather systems. much appreciated. >>> now, the debt uncertainty in the united states is sending shudders through markets...
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Jul 13, 2011
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a lot of people have been saying it could be too big to fail. it's the world's eighth largest economy, very much in the eye of the storm. it may be too big to bail out some politicians and economists to bail out. we asked the head of pimco whether he was worried or surprised italy found itself in this situation. take a listen to what he had to say. >> surprise, no, worried, yes. surprised no, because europe has failed to get ahead of the crisis. when you fail to get ahead of the crisis, it becomes more disorderly and it spreads quickly. worried because italy is very different from greece, ireland and portugal. italy is large. italy is the third biggest issuer of debt. this marks a significant morphing of the european debt crisis. >> one positive we should mention is italy's bond auction on tuesday was rather successful. it had to sell the bonds at a 6% yield, but it did manage to do so. so investors seeing that as a note of positivity on the markets. last night italy's own prime minsters, silvio berlusconi urged politicians to show unity to pass
a lot of people have been saying it could be too big to fail. it's the world's eighth largest economy, very much in the eye of the storm. it may be too big to bail out some politicians and economists to bail out. we asked the head of pimco whether he was worried or surprised italy found itself in this situation. take a listen to what he had to say. >> surprise, no, worried, yes. surprised no, because europe has failed to get ahead of the crisis. when you fail to get ahead of the crisis,...
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>>> it's a classic tale of big business versus mom and pap. we're talking about new york's historic little italy. where traditional restaurants are trying to in compete with a new, italian powerhouse. richard roth explains. >> now, that's good. >> reporter: good seems an understatement for public reaction to eataly, the upscale extravaganza in manhattan. the new york branch of a global rollout, eataly rolled out with hype. >> eataly will become a destination for food aficionados from far and wide. >> reporter: those that cooked up eataly, says it's doubled projections. >> everyone seems to love everything about eataly. >> reporter: not everybody loves eataly. especially those in historic little italy. >> eataly is a great place. but it's more of a shopping mall. >> i respect the chefs of eataly. but eataly itself, there's restaurants in eataly. but it's not an italian experience. >> reporter: before the cheese heats up, eataly is not taking the bait. >> we're huge fans of little italy. i think little italy celebrates a part of new york that's
>>> it's a classic tale of big business versus mom and pap. we're talking about new york's historic little italy. where traditional restaurants are trying to in compete with a new, italian powerhouse. richard roth explains. >> now, that's good. >> reporter: good seems an understatement for public reaction to eataly, the upscale extravaganza in manhattan. the new york branch of a global rollout, eataly rolled out with hype. >> eataly will become a destination for food...
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he feels like we've gotten too big. you know, i decided, i got to get out there and find out for myself what the problem is. honestly, i don't think there is a problem. i think we just have to work harder and be more persistent. >> reporter: the face time also gives steve the opportunity to see how his products are being received, and to find out whether he's missing a trick. >> another thing i'm thinking about is doing a brooklyn only beer, like a beer that we would only -- a draught beer that we'd only sell in brooklyn, something special. >> that would be great. >> salespeople are always going to have excuses why they're not selling certain accounts. the only way you can counter that is to get out there and try it yourself. then they can't bs you about what's happening in the market. >> reporter: steve has been pounding the pavement for years. he says he'll continue doing so as long as he's the boss. >> i don't think i could sell something that i wasn't really in love with. and, you know, it's important to be able to
he feels like we've gotten too big. you know, i decided, i got to get out there and find out for myself what the problem is. honestly, i don't think there is a problem. i think we just have to work harder and be more persistent. >> reporter: the face time also gives steve the opportunity to see how his products are being received, and to find out whether he's missing a trick. >> another thing i'm thinking about is doing a brooklyn only beer, like a beer that we would only -- a...
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these are all big names to watch. a very big reaction. and now the headline is going to be what happens with the u.s. deadline. speaking of the united states, there was plenty of relief on wall street on thursday, again, because of the news of the european debt deal. that sent investors reaching for their wallets. at the close the dow is up 15250. the s&p was up one and a third per senn. let's take a look at how the markets are going and how things are set for when trading begins on friday. that's how the futures are looking. we're looking cautiously optimistic, i would say, nina. >>> well, it's le than two weeks to go, nina, until the u.s. could default on its $14.3 trillion worth of debt. they met with president barack obama on thursday. cnn spoke with jong king about why some in the president's party are very angry. >> they held a meeting with the president here at the white house for nearly two hours. it's never terribly good that it went on that long. no one is speak publicly about it but i'm speaking with some democrats on the hill
these are all big names to watch. a very big reaction. and now the headline is going to be what happens with the u.s. deadline. speaking of the united states, there was plenty of relief on wall street on thursday, again, because of the news of the european debt deal. that sent investors reaching for their wallets. at the close the dow is up 15250. the s&p was up one and a third per senn. let's take a look at how the markets are going and how things are set for when trading begins on friday....
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Jul 20, 2011
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this was big, big news here today. china's stlal television has been broadcasting now for five hours live after this announcement that has really captured everyone's attention. yao ming, of course, went to the houston rockets in 2002 as a tall, gangly kid, has since emerged as one of the leading players in the nba, someone who has played for the nba all-star team, has also represented the chinese team at the olympics and world titles and so on. he was able to reflect today on that journey and took some time out for a special thanks to those people in the united states who helped him along the way. >> special thanks for my friends overseas, especially the fans in houston. i would like to thank you forgive me a great nine years during my nba career. nine years ago i come to houston as a young, tall, skinny player. an entire city and a team changed me to a grown man, not only a basketball player. >> he did that very comfortably in english as well, something he wasn't able to do when he first went to houston. it really goe
this was big, big news here today. china's stlal television has been broadcasting now for five hours live after this announcement that has really captured everyone's attention. yao ming, of course, went to the houston rockets in 2002 as a tall, gangly kid, has since emerged as one of the leading players in the nba, someone who has played for the nba all-star team, has also represented the chinese team at the olympics and world titles and so on. he was able to reflect today on that journey and...